General Mills: annual forecasts revised downwards

(CercleFinance.com) - On the occasion of the publication of its quarterly results, General Mills announced on Wednesday that it had lowered its targets for the 2024/2025 financial year, citing in particular the current climate of economic uncertainty.


In a press release, the US food group now expects its adjusted operating profit to fall by between 2% and 4% at constant exchange rates for the current financial year, which closes at the end of May.

The owner of the Häagen-Dazs brand, among others, had previously forecast a more limited decline in operating profit at constant exchange rates, ranging from 0% to 2%.

General Mills, which recently acquired the Whitebridge animal feed brands in North America, justifies this downward revision by the need to carry out its current investments in order to ensure profitable growth.

In its second fiscal quarter, which ended at the end of November, sales rose by 2% to $5.2 billion, including organic growth of 1%.

Adjusted operating profit rose by 7% at constant exchange rates, to $1.1 billion.

The stock was expected to fall by more than 4% on the New York Stock Exchange on Wednesday morning following these announcements.

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